Is EU product liability directive 85/374/EEC still an adequate tool in a world of smartphones and driverless cars? Following a lengthy formal evaluation, the European Commission is set to unveil its findings imminently. The insurance industry has come out fighting.
Gallagher has purchased a minority stake in Czech-domiciled insurance broker Renomia for an undisclosed sum.
Catastrophe risk modeler AIR Worldwide has broadened its inland flood model for Central Europe to include Poland.
Allianz and Banco Santander have entered an agreement for the German insurance giant to end its participation in Allianz Popular – its life insurance, pensions, asset management, and non-life insurance in business Spain for Eur936.5mn ($1.07bn).
Twelve Capital, an insurance-focused investment manager, has broadened the product base it offers to ILS investors under its own brand – including cat bonds and collateralised reinsurance.
Swiss Re’s closed life book consolidator ReAssure is set to go live with its initial public offering (IPO) on the main market of the London Stock Exchange in July, the reinsurer confirmed today.
New York-based insurtech Lemonade has entered the European Market with the launch of its contents and liability insurance product in Germany, backed by a reinsurance arrangement with Axa.
Berkshire Hathaway Specialty Insurance (BHSI) has opened an office in Paris, with a license to begin underwriting in France immediately.
Loss aggregation firm Perils has pegged property damage losses from extratropical cyclone Dragi-Eberhard at Eur798mn ($899mn).
Property and casualty rate changes in Europe range from negative 5 percent to positive 10 percent, depending on sector, geography, and client risk profile, as the continent enters a “firming environment,” according to Aon’s latest survey.
The Financial Services Compensation Scheme (FSCS) is to pay out a total of £6.9mn ($8.7mn) to customers of failed insurer Alpha Insurance A/S following the unrated Danish insurer’s collapse.
As European life insurers find it difficult to achieve organic growth, many are opting to place or buy run-off portfolios, according to the latest report from Moody’s.
The European Commission has formally approved Gallagher’s £190mn acquisition of JLT’s aerospace division, The Insurer can reveal.
Korean Reinsurance Company is set to launch Korean Reinsurance Switzerland AG – its new subsidiary based in Zurich – with the hire of Markus Eugster to lead the operation.
German reinsurer Deutsche Rückversicherung AG has reported an operating result before tax of Eur78.2mn ($87.4mn) in 2018, more than triple the Eur24mn it reported in 2017.
AmWINS-owned (re)insurance broker THB has appointed Zamira Thurnim as treaty director of THB Europe, effective immediately.
Scandinavian P&I Club Skuld saw its bottom line drop by 81 percent for the financial year ending 20 February 2019 as difficult trading conditions and a handful of large claims took their toll.
Bermuda has been recommended for removal from the European Union’s blacklist of non-cooperative tax jurisdictions by a key EU group, with the island’s officials telling The Insurer they expect to be taken off the list within weeks.
Hannover Re’s long-serving executive Ulrich Wallin has celebrated his last day as CEO by unveiling strong first quarter results at the industry’s fourth-largest reinsurer.